What does the Risk Assessment Code (RAC) represent?

The Risk Assessment Code (RAC) is a tool used to quantify the overall risk associated with a particular hazard by evaluating both the severity of the potential impact and the likelihood of its occurrence. This code helps in prioritizing risks and determining the necessary controls or mitigations to manage them effectively.

The concept of RAC stems from risk assessment practices that aim to provide a systematic way to evaluate risks. By combining both the potential consequences and the probability of a hazard happening, the RAC gives a comprehensive picture of the risk level which assists decision-makers in managing safety effectively.

Other options, while they touch on important aspects of risk management, do not encapsulate the primary purpose of the RAC. They may address specific elements or considerations within risk management but do not represent the holistic view of risk that the RAC provides.